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10/04/2018 Market Recap

10/04/2018 Market Recap

Postby Cobra » Thu Oct 04, 2018 4:10 pm

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Re: 10/04/2018 Market Recap

Postby Cobra » Thu Oct 04, 2018 4:53 pm

SUMMARY:

Called downtrend day right, the rest of the day was then easy. The later day rebound was as usual, so how to book bear profit is always a question.


NOTE:

Explained how I decided whether it'd be a downtrend day or range day here (viewtopic.php?f=2&t=3105&p=259456#p259456).

Reiterated here that a downtrend day still was possible (viewtopic.php?f=2&t=3105&p=259465#p259465).

Called more leg down here (viewtopic.php?f=2&t=3105&p=259483#p259483)

Explained how I decided whether bulls finally had chances or not here (viewtopic.php?f=2&t=3105&p=259501#p259501)

Basically explained trading reversals setup here (viewtopic.php?f=2&t=3105&p=259504#p259504)

Reminded possible pullback here (viewtopic.php?f=2&t=3105&p=259511#p259511)

It was a trading reversals setup. Unfortunately it was too late even though likely more up here (viewtopic.php?f=2&t=3105&p=259517#p259517). The close was near so not much time to up now.

It was a typical bear day close (rebound sharply near the close), so not helpful for calling tomorrow.
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DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.

    My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
    Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
    Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

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